Central business districts have not been immune to the impacts of the Great Recession. While some have continued to thrive, others have suffered as shoppers and other visitors reduced spending and storefronts became empty. From this difficult period have come several important trends in promoting the downtown area that will serve leaders well in the years to come.
Overall, these trends aim to leverage community resources and marketing dollars as much as possible.
This is seen in the increasing popularity of co-op advertising, subsidized coupons, and other programs that support individual businesses as well as the downtown overall. It is seen in the appeal of events that emphasize downtown’s unique culture and community as people seek a sense of home and stability. It is seen in marketing programs, which utilize low-cost social media to replace more costly traditional marketing. And it is seen in the increased resonance of marketing programs that encourage people to shop locally.
Ringing Downtown Cash Registers explores these and other trends and provides examples of how successful downtowns are growing and prospering.